SpiceJet shares gain after airline adds first new station after raising Rs 3,000 cr via QIP

SpiceJet shares gain after airline adds first new station after raising Rs 3,000 cr via QIP

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26 Aug, 2025 12:21

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SpiceJet share price extended its rally in October 10 trade after the stock gained nearly 5 percent as the company informed the shareholders on adding first new station after raising Rs 3,000 cr via Qualified Institutional Placement (QIP).

SpiceJet stock touched an intraday high of Rs 68.98 apiece on the BSE, rising 4.9 percent from its previous close. At around 12.30 PM, the stock was trading at Rs 67.27 per share on the BSE, up 2.30 percent.

The up move was seen after the airline announced the commencement of new UDAN flights connecting Shivamogga in Karnataka with Chennai and Hyderabad, starting from October 10, 2024.

This launch marks Shivamogga’s addition as a new station on SpiceJet’s domestic network and is the airline’s first new destination following its QIP which has bolstered the airline’s expansion and growth plans.

SpiceJet recently raised Rs 3,000 crore via a Qualified Institutional Placement (QIP) as a pivotal point in its financial recovery initiative. In addition to the capital raised through the QIP, SpiceJet is also set to receive Rs 736 crore from a previous funding round.

The company in an exchange filing, said "The new flights will operate daily, except Tuesdays, providing convenient travel options for passengers between Shivamogga and major metro cities, thereby encouraging tourism, trade, and regional development."

Earlier, the carrier said that it has amicably settled its dispute with lessors under Babcock & Brown Aircraft Management (BBAM) for $22.5 million. The settlement amount is a notable reduction from the original claim of $131.85 million, said SpiceJet in a stock exchange filing.

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